It's that time of the week where we take a look back at the news stories that dominated the worlds of Forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term, Fintech, and Crypto, in our best of the week segment.
Ethereum Wallet Transfers 40,000 ETH from Gemini
The trading week kicked off with news that Ethereum whales accelerated the movement of ETH from leading cryptocurrency exchanges during the Asian session on Monday.
One crypto wallet moved 40,000 ETH from the digital exchange, Gemini to a crypto wallet. The total value of that single transfer stood at $86 million.
Read more on Ethereum Whales here.
Bitcoin Whale Address Moves 3,129 BTC from Binance to Xapo
Staying with whale movements, a well-known Bitcoin wallet recently transferred 3,129 BTC from the cryptocurrency exchange, Binance to the digital wallet, Xapo.
The total value of the transaction stood at around $103 million.
Read more on Bitcoin Whales here.
ETX Capital Gains License from South African Regulator FSCA
ETX Capital has received a new regulatory license from the South African Financial Sector Conduct Authority (FSCA), the London-based forex and CFDs broker announced on Tuesday.
The broker added the South African license as a part of the move to expand its services globally, especially beyond Europe.
Read more on ETX Capital's South African License here.
XTB MENA Receives a License from the Dubai Financial Services Authority
Announced on the same day as ETX Capital's South African license was news that X-Trade Brokers, known by its trade name XTB, has been granted through its branch XTB MENA a category three license from the Dubai Financial Services Authority (DFSA) to operate in the country.
The new license will allow XTB to provide its range of FX and CFDs products to retail and professional clients not only from the UAE but also to expand the offering to the other GCC states, meaning Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and North Africa.
Read more on the XTB MENA Dubai License here.
Is It a Good Time to Buy XRP?
XRP remains one of the most controversial Cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term. However, it is trading at an attractive price level following its correction from April’s peak.
With legal issues ongoing, XRP is still one of the largest cryptocurrencies in terms of market capitalization, but is it a good time to buy xrp?
In a Finance Magnates Analysis, we looked at what's next for XRP.
Read more on is it a good time to buy XRP here.
Plus500 Posts Impressive H1 2021 Revenue Growth, but 2020 Demand Vanishes
London-listed Plus500 provided a trading update on its H1 of 2021 performances, showing a sharp correction from the record it achieved last year with the Covid-spurred market volatility.
The Group revenue of the global CFDs broker for the six months, ending on June 30, 2021, came in at $346.2 million, down from H1 of 2020’s $564.2 million. However, the figure increased 156 percent from H1 of 2019’s $148 million.
Read more on the Plus500 H1 2021 Results here.
US SEC Charges Two Individuals Involved in a Binary Options Fraud Case
The US Securities and Exchange Commission (SEC) announced on Tuesday that it has filed charges on two individuals based in Israel with allegedly defrauding US investors out of millions of dollars through binary options.
Jonathan ‘Yoni’ Maymon and Ronn BenHarav are accused by the SEC of defrauding investors, including retirees and other retail investors, through fraudulent and online offers, which included sales of high-risk securities in the form of binary options offerings.
The complaint, filed in a federal court in the Nevada state, noted that the defendants set up a company based in Israel named ‘JMRB Media, Ltd.’, which allegedly operates boiler rooms.
Read more on the latest Binary Options Fraud case here.
Binance Faces Regulatory Troubles in Lithuania for Offering Derivatives
The Binance woes continue.
Binance has received another regulator warning for its cryptocurrency exchange services, this time from the Central Bank of Lithuania.
Announced on Friday, the Lithuanian regulator warned that Binance is offering ‘unlicensed investment services’ in the country and ordered the company to ensure that its publicly available information is not misleading.
Read more on Binance Lithuania Ban here.
UK Authorities Conduct a Record-Breaking Crypto Seizure Worth $249 Million
Detectives from the UK Metropolitan Police’s Economic Crime Command made another significant strike in crypto seizures.
Announced this week, the authorities conducted what is believed to be the largest crypto seizure known worth £114 million ($249 million) in unnamed coins.
Read more on the crypto seizure here.
I Don’t Want Bitcoin in My Portfolio, Says Steven Mnuchin
Steven Mnuchin, former Secretary of the Treasury in the US, recently expressed his views about Bitcoin and other cryptocurrency assets. In an interview with CNBC, Mnuchin said that he is not planning to add BTC to his investment portfolio.
Read what Steven Mnuchin has to say on Bitcoin here.
It's that time of the week where we take a look back at the news stories that dominated the worlds of Forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term, Fintech, and Crypto, in our best of the week segment.
Ethereum Wallet Transfers 40,000 ETH from Gemini
The trading week kicked off with news that Ethereum whales accelerated the movement of ETH from leading cryptocurrency exchanges during the Asian session on Monday.
One crypto wallet moved 40,000 ETH from the digital exchange, Gemini to a crypto wallet. The total value of that single transfer stood at $86 million.
Read more on Ethereum Whales here.
Bitcoin Whale Address Moves 3,129 BTC from Binance to Xapo
Staying with whale movements, a well-known Bitcoin wallet recently transferred 3,129 BTC from the cryptocurrency exchange, Binance to the digital wallet, Xapo.
The total value of the transaction stood at around $103 million.
Read more on Bitcoin Whales here.
ETX Capital Gains License from South African Regulator FSCA
ETX Capital has received a new regulatory license from the South African Financial Sector Conduct Authority (FSCA), the London-based forex and CFDs broker announced on Tuesday.
The broker added the South African license as a part of the move to expand its services globally, especially beyond Europe.
Read more on ETX Capital's South African License here.
XTB MENA Receives a License from the Dubai Financial Services Authority
Announced on the same day as ETX Capital's South African license was news that X-Trade Brokers, known by its trade name XTB, has been granted through its branch XTB MENA a category three license from the Dubai Financial Services Authority (DFSA) to operate in the country.
The new license will allow XTB to provide its range of FX and CFDs products to retail and professional clients not only from the UAE but also to expand the offering to the other GCC states, meaning Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and North Africa.
Read more on the XTB MENA Dubai License here.
Is It a Good Time to Buy XRP?
XRP remains one of the most controversial Cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term. However, it is trading at an attractive price level following its correction from April’s peak.
With legal issues ongoing, XRP is still one of the largest cryptocurrencies in terms of market capitalization, but is it a good time to buy xrp?
In a Finance Magnates Analysis, we looked at what's next for XRP.
Read more on is it a good time to buy XRP here.
Plus500 Posts Impressive H1 2021 Revenue Growth, but 2020 Demand Vanishes
London-listed Plus500 provided a trading update on its H1 of 2021 performances, showing a sharp correction from the record it achieved last year with the Covid-spurred market volatility.
The Group revenue of the global CFDs broker for the six months, ending on June 30, 2021, came in at $346.2 million, down from H1 of 2020’s $564.2 million. However, the figure increased 156 percent from H1 of 2019’s $148 million.
Read more on the Plus500 H1 2021 Results here.
US SEC Charges Two Individuals Involved in a Binary Options Fraud Case
The US Securities and Exchange Commission (SEC) announced on Tuesday that it has filed charges on two individuals based in Israel with allegedly defrauding US investors out of millions of dollars through binary options.
Jonathan ‘Yoni’ Maymon and Ronn BenHarav are accused by the SEC of defrauding investors, including retirees and other retail investors, through fraudulent and online offers, which included sales of high-risk securities in the form of binary options offerings.
The complaint, filed in a federal court in the Nevada state, noted that the defendants set up a company based in Israel named ‘JMRB Media, Ltd.’, which allegedly operates boiler rooms.
Read more on the latest Binary Options Fraud case here.
Binance Faces Regulatory Troubles in Lithuania for Offering Derivatives
The Binance woes continue.
Binance has received another regulator warning for its cryptocurrency exchange services, this time from the Central Bank of Lithuania.
Announced on Friday, the Lithuanian regulator warned that Binance is offering ‘unlicensed investment services’ in the country and ordered the company to ensure that its publicly available information is not misleading.
Read more on Binance Lithuania Ban here.
UK Authorities Conduct a Record-Breaking Crypto Seizure Worth $249 Million
Detectives from the UK Metropolitan Police’s Economic Crime Command made another significant strike in crypto seizures.
Announced this week, the authorities conducted what is believed to be the largest crypto seizure known worth £114 million ($249 million) in unnamed coins.
Read more on the crypto seizure here.
I Don’t Want Bitcoin in My Portfolio, Says Steven Mnuchin
Steven Mnuchin, former Secretary of the Treasury in the US, recently expressed his views about Bitcoin and other cryptocurrency assets. In an interview with CNBC, Mnuchin said that he is not planning to add BTC to his investment portfolio.
Read what Steven Mnuchin has to say on Bitcoin here.
